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Rydex S&P Equal Weight ETF Bullish Moving Average Crossover Alert (RSP)

By Shiri Gupta

Today, shares of Rydex S&P Equal Weight ETF (AMEX:RSP) have advanced above their 10-day MA of $83.37 on a volume of 133K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Rydex S&P Equal Weight ETF has traded in a range of $43.77 to $83.93 and is now at $83.64, 91% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.7%.

SmarTrend recommended that subscribers consider buying shares of Rydex S&P Equal Weight ETF on September 17th, 2015 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $77.57. Since that recommendation, shares of Rydex S&P Equal Weight ETF have risen 7.1%. We continue to monitor RSP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses amex:rsp rydex s&p equal weight etf

Ticker(s): RSP